Hedging (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Cash Flow Hedging Instruments

The following table summarizes the notional amount of the Company’s outstanding foreign currency forward contracts designated as cash flow hedges under GAAP:

	As of December 31,
	2018		2017
Foreign Currency	(in thousands)
Euro	$	335,179	$	257,230
British pound sterling	73,460		77,481
Australian dollar	52,820		30,501
Canadian dollar	43,759		—
Total foreign currency forward contracts	$	505,218	$	365,212

Derivative Instruments, Gain (Loss)

During the three years ended December 31, 2018, the Company recognized the following related to foreign currency forward contacts in its consolidated statements of operations:

	December 31,
	2018			2017		2016
	(in thousands)
Designated as hedging instruments - Reclassified from AOCI
Product revenues, net	$	(1,252	)	$	768	$	10,543
Not designated as hedging instruments
Other (expense) income, net	$	623		$	14,129	$	(6,917	)

Schedule of Foreign Exchange Contracts

The following table summarizes the fair value of the Company’s outstanding foreign currency forward contracts designated as cash flow hedges under GAAP included on its consolidated balance sheets:

As of December 31, 2018
Assets			Liabilities
Classification	Fair Value		Classification	Fair Value
(in thousands)
Prepaid and other current assets	$	19,023	Other liabilities, current portion	$	(340	)
Other assets	1,514		Other liabilities, excluding current portion	(108		)
Total assets	$	20,537	Total liabilities	$	(448	)

As of December 31, 2017
Assets			Liabilities
Classification	Fair Value		Classification	Fair Value
(in thousands)
Prepaid and other current assets	$	13	Other liabilities, current portion	$	(13,642	)
Other assets	—		Other liabilities, excluding current portion	(866		)
Total assets	$	13	Total liabilities	$	(14,508	)

Derivatives Offsetting

The following table summarizes the potential effect of offsetting derivatives by type of financial instrument designated as cash flow hedges under GAAP on the Company’s consolidated balance sheets:

	As of December 31, 2018
	Gross Amounts Recognized			Gross Amounts Offset		Gross Amounts Presented			Gross Amounts Not Offset			Legal Offset
Foreign currency forward contracts	(in thousands)
Total assets	$	20,537		$	—	$	20,537		$	(448	)	$	20,089
Total liabilities	(448		)	—		(448		)	448			—

	As of December 31, 2017
	Gross Amounts Recognized			Gross Amounts Offset		Gross Amounts Presented			Gross Amounts Not Offset			Legal Offset
Foreign currency forward contracts	(in thousands)
Total assets	$	13		$	—	$	13		$	(13	)	$	—
Total liabilities	(14,508		)	—		(14,508		)	13			(14,495		)